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Stock Market Update ?

Stock Market Update 

Stock Market Update - Current Stock Market Update

U.S. stocks closed near the flatline on Thursday as investors looked ahead to a key employment report.

"I think a large part of it is a good jobless claims number, which certainly gives more weight to tomorrow's jobs report," said Eric Wiegand, senior portfolio manager at the Private Client Reserve at U.S. Bank.

The Dow Jones industrial average closed about 10 points lower, with Wal-Mart and American Express contributing the most losses. The S&P 500 closed just above the flatline, with materials leading advancers and health care the top decliner. The Nasdaq composite dropped 0.17 percent, as the iShares Nasdaq Biotechnology ETF (IBB) fell more than 2 percent.

The three major indexes had traded further below the flatline earlier in the session, with the Dow falling 118.06 points at session lows.


The stock market and in this case the US indicies or DOW JONES has been going sideways for weeks now. We can still say the market is keeping afloat and not taking a PANIC ATTACK biscuit over interest rates, LOWER VIX and the brexit news that will come to the forefront next month! You can see the DOW has been treading water in between exactly 18000 and 18400 with the next move probably going to be significant!. 

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The Labor Department is scheduled to release its September jobs report on Friday, with economists polled by Reuters expecting the U.S. economy to have added 175,000 jobs and unemployment holding steady at 4.9 percent.

"The market is processing the likelihood of a Fed rate hike. If you look at the yield curve, it's higher. I think investors looking for yield are reconsidering some of their holdings," said Kim Forrest, senior equity analyst at Fort Pitt Capital.

"We expect jobs growth to continue in health care, tech and finance," said Andrew Chamberlain, chief economist at Glassdoor, adding he expects the U.S. economy to have added 176,000 jobs last month. "The labor market is very strong. This is pretty unusual heading into an election." "Such low unemployment numbers are talking some of the most pessimistic talking points off the table."

The jobs report will come on the back of upbeat U.S. data released Wednesday, including the strongest print on the ISM non-manufacturing index for the year. On Thursday, weekly jobless claims fell to 249,000.

"A weak Jobs Report on Friday would erase any of the positive sentiment gained with yesterday's strong number," said Jeremy Klein, chief market strategist at FBN Securities..  -    Source : Cnbc.

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Sterling to plunge further analysts warn

Sterling to plunge further, analysts warn

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Sterling to plunge further, analysts warn

Sterling to plunge further analysts warn

Sterling to plunge further analysts warn

Sterling to plunge further analysts warn ... Is this true?

Sterling is set to fall further against the dollar in the medium to long term due to the uncertainty following the U.K.'s vote to leave the European Union. In fact, the currency is expected to hit $1.25 sooner than later, a number of analysts told CNBC.

Charts never lie, and when you look at the pound sterling chart below, there seems to be a few problems show up.....But....

Sterling to plunge further analysts warn...if this is true, then lets go and take a look at the daily charts.

There was a HUGE sell off on the brexit news a while back, the dust has settled, however you can see the range is in focus now on the chart. The 1.30 - 1.35 level. I think if we go and break down below the support there at 1.30 it could be a slide down the slipperly slide, so that is the level we will be watching for. Things seems to quiet in the UK right now, at a time where we just had one of the most historical events, in human history. Something doesnt seem right and this chart reflects that. We have resistance in the 1.35 area, so we are going to have to see some sort of mirical for massive buying to come in, but that could indeed happen. For now, we are waiting for the support / resistance band to break. Lots of opportunities in this one.,... 

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"I have a 1.25 forecast for GBP/USD over the next three months. If the data remains weak, that forecast risks being revised further lower," Jeremy Stretch, head of G10 FX strategy at CIBC Capital Markets told CNBC via email.

"The recalibration of macro assumptions post-Brexit has yet to force the Bank of England to forecast annual negative growth. However, the scale of the immediate growth revisions has prompted an aggressive policy response, in large part as the bank attempts to get ahead of what is expected to be increasingly weak real economy data."

Stretch explained that if the data confirm the worst fears, then the BOE will again swing into action in November -- which could lead to a further revision of sterling.

Sterling suffered session lows against the dollar, off by more than 1.5 percent, after the Bank of England cut interest rates for the first time in seven years by 25 basis points to 0.25 percent. The BoE also announced a new Term Funding Scheme worth up to £100 billion and purchase of up to £10 billion in U.K corporate bonds. A £60 billion hike in the bank's government bond-buying program, known as quantitative easing, to £435 billion was also announced.

Currency volatility was at its highest after the Brexit vote, with dramatic moves in sterling from $1.50 to a 31-year low of $1.32. While it continues to remain under pressure, sterling is currently trading a touch above the dollar at $1.31 levels.

The decision from the BoE on Thursday saw sterling down to $1.31 levels, a move that the BoE's deputy governor Dr Ben Broadbent saw as "relatively small."

Speaking to BBC radio on Friday morning, Broadbent said the pound's drop after the BoE's decision on Thursday was relatively small compared with its fall after the June vote to leave the EU.

He said he was pretty confident the BoE's stimulus package would have some effect and that he did not agree the central bank's actions reflected panic.

Uncertainties ahead?

But with the U.K. economy heading into an even lower interest rate environment and uncertainties about Brexit loom, analysts say sterling will continue to fall.

"Heightened political risk and economic uncertainty will prevent a strong recovery in sterling in the near-term, even if the economic outlook brightens," Kallum Pickering, Senior U.K. economist at Berenberg told CNBC via email.

"When the Brexit divorce negotiations begin to bear fruit, thereby reducing economic uncertainty, sterling should then start to return to more normal levels."

However some analysts think we are beginning to see some reprieve in sterling which may last few months but it will head lower again. Craig Orlam, Senior Market Analyst at Oanda told CNBC that the trigger for this could either be more BoE stimulus, the triggering of Article 50 or more deterioration of the U.K. economy.

"Prior to that, $1.31 (in GBP/USD) may continue to offer significant support, as it did before and after the BoE announcement, while $1.35 could provide a ceiling to the upside," Erlam said, adding, "I do see $1.31 being broken and the pair trading back around $1.28 post-Brexit lows and possibly towards $1.25. Although we may need to wait as long as early next year for this."  -    Source : Cnbc.

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How To Profit From The Brexit Crisis – 2 Opportunities For Homeowners & Investors

How To Profit From The Brexit Crisis – 2 Opportunities For Homeowners & Investors

When Britain voted to leave the European Union, markets all over the world took an immediate hit. Chaos ensued and people all over the world weren't sure what to expect next. However, after a few short days things started to calm down and lucrative opportunities started to come to the forefront. Here are just two of the many ways homeowners and investors can profit from the Brexit crisis. #1 – Refinance Your Mortgage Immediately after the vote came down, the yield on the benchmark 10-year Treasury dropped to 1.44%. That's the lowest it has been in four years. This of course is good news for homeowners all over the world. With lower borrowing costs, now is the perfect time to refinance your mortgage. According to Zillow.com, refinancing right now has the potential to save you up to $600 a month on a $300,000 30 year mortgage that was taken out in 2010. Please note refinancing is not for everyone. You should only refinance your home if you can lower your interest rate by 0.75-percentage point, and if you plan on staying in the home for at least 5 more years. Otherwise it won't be worth it as the fees will far outweigh the benefits. Keep in mind there are also costs associated with a no cash refinance. For instance, your mortgage may be reset to 30 years. #2 – Reorganize Your Portfolio Another way you can profit from the Brexit crisis is by reorganizing your portfolio. This is especially true for long term investors. The fear created by Britain leaving the European Union caused stocks to fall more than 5% in just 48 hours. As a result scared investors started selling off their stocks as quickly as possible. That opened the door for savvy investors to snatch up a ton of suddenly cheap stocks. Big financial institutions such as JPMorgan Chase and Wells Fargo were impacted the most by the sell off. Both however are well diversified banks and will have no problem bouncing back. As billionaire investor Warren Buffet once said, “ Be fearful when others are greedy and greedy when others are fearful.” Right now is the time to be greedy. The Brexit crisis has opened up a value buying opportunity most are too afraid to act on. Right now, given the right set of circumstances, you can greatly enhance your returns by making a few minor adjustments to your portfolio.

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Why The Brexit Crisis Will Get Worse

Why The Brexit Crisis Will Get Worse – 3 Things To Look Out For

On June 23, 2016, the people of Britain voted to leave the European Union. The impact of this historic referendum was immediately felt all over the world. Just 24 hours after the vote, markets all over the world plunged sharply. According to some economists, the markets plunging is a sure sign that economic turmoil is on the horizon.

Here are 3 things that can cause the Brexit crisis to get worse:

#1 – The Slow Down Of Trade Flows

A research brief put out prior to the referendum showed various ways the British economy would suffer as a result of Brexit. The brief pointed out the fact that almost 50 percent of all UK exports go to the rest of Europe. And Britain has benefited greatly from the lower tariffs and market access you only get when you are part of the European Union.

Once Britain decided to leave the EU, trade flows now have the potential to slow down considerably.

#2 – UK Incomes May Start To Fall

According to the Centre for Economic Performance at the London School of Economics, UK incomes could fall by as much as 3.1 percent in the wake of Brexit. With lower incomes you open the door for homelessness, poverty and higher crime rates.

#3 -  Businesses May Stop Hiring

When there is a lot of uncertainty in the economy, the first thing businesses will do is stop hiring. They will also stop making any new investments. Instead they will start to shrink their workforce in a effort to preserve their business.

So not only will incomes be lowered, but people won't be able to find jobs. This is truly a recipe for disaster. And once one domino starts to fall, the rest will start to fall and things will only get worse.

As Paul Krugman of the New York Times put it, Brexit will make Britain poorer. While he can't put a number on how much poorer Britain will be, he does believe it will be substantial.

At this point no one really knows the long term economic impact Brexit will have on the European Union or on Britain. Larry Summers, the former director of the US National Economic Council, believes  the bigger question is what will happen if other countries decide to follow Britain's lead and exit the European Union?

For now the world will just wait and see what becomes of Britain over the next 12 months.

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